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Cryptocurrencies can be highly sensitive to news announcements. The type of news that can affect the price ranges from the CEO of JPMorgan Chase calling Bitcoin a ‘fraud’ to details of networks being hacked. Also, economic and political events affecting fiat currencies can lead traders to lose faith in these more traditional trades and turn to cryptocurrencies, pushing up the price. Top crypto coins Can cryptocurrencies be used to make online purchases?Yes, cryptocurrencies are a medium of exchange, which can be used to make payments for online purchases. There are hundreds of online shops and retailers that accept Bitcoin and other cryptocurrencies. However, there is a catch. Both the buyer and seller should agree to accept the particular cryptocurrency for the deal. There are various search engines to find the goods and services that can be purchased using cryptocurrencies.
Current crypto currencies
Bitcoin gets all the headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. In fact, cryptos that aren’t Bitcoin are usually considered an “also ran” – what are called “altcoins,” or alternatives to Bitcoin. Experts have predicted 10x returns for top crypto coins DYDX, VC Spectra (SPCT), and Polkadot (DOT) by February 2024. Here's why! While bitcoin’s decentralization and transparency make it appealing to investors and users, critics have raised concerns about its energy-intensive proof-of-work consensus mechanism and pointed out difficulties in scaling the network. In addition, there are now several large-scale crypto projects that have higher transaction speeds than bitcoin and others that have blockchains with special designs to improve bitcoin’s functionality.
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